PSEi closes above 6400 on Fitch rating, easing trade tensions

The Philippine Stock Exchange Index (PSEi) closed above the 6400 level, marking a 0.89 percent increase to 6,411.86, driven by improved investor sentiment.

This positive sentiment was largely due to Fitch Ratings' affirmation of the Philippines' BBB credit rating with a stable outlook and easing trade tensions.

The Services sector showed strength, contributing to the PSEi's rise, although sectoral indices were mixed.

Despite some declines in Industrial, Mining and Oil, and Property sectors, Financials and Holding Firms also closed in the green.

The Philippine peso also strengthened against the US dollar, closing at 55.57 from a previous 55.84.

While local shares and the peso gained, the number of decliners outnumbered advancers on the trading floor.